Timing is Everything-IRS Issues Year End Expense Guidance
from Ed Zollars' Tax Update Podcast
This week the IRS decided to send a warning to accrual basis taxpayers that the IRS has some very specific ideas on the proper application of the recurring item exception. We look at Revenue Ruling 2007-3 and the issues it raises for deductions on contracts entered into near year end. The materials for this podcast can be downloaded from http://edzollars.com/2006-12-23_Accrued_Expenses.pdf . The podcast is sponsored by Leimberg Information Services .
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This episode is 35 minutes long.
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This episode was published on December 24, 2006.
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